“I don’t know where I went wrong. It was a great house. It was a great renovation. The money just wasn’t there.”

It was 2012. I had just completed my first real investment in Oregon—and I’d barely broken even. Despite all my knowledge about rental properties, it just didn’t seem to translate to flipping houses.

My friend and mentor was there with me, and she shook her head. “You paid too much.”

She explained, “You’re used to buying turn-key rentals on the open market. But when you flip houses, you need off-market deals. You can’t control what someone is going to pay for a property. But you can control what you pay for the property.”

Years later, after following her advice, I now know what makes an investment worth it. And I’d like to share that knowledge with you today.

Finding Off-Market Properties in Oregon: Best Opportunities for Investors

As an investor, you need to find off-market leads—properties that have never hit the open market and aren’t being actively marketed for sale. Unfortunately, that’s a bit of a catch-22. How do you find a property if it’s not being marketed?

To understand how to find off-market properties in Oregon, we need to first look at the Oregon real estate market as a whole.

The Pros and Cons of the Oregon Real Estate Market

Oregon is a beautiful, desirable state. I knew I wanted to invest in it the first time I set foot there. The real estate is highly local, and it’s all about knowing where people want to live. The fact of the matter is that people want to live and work in Oregon.

The state is backed by a strong economy. Its real estate is highly differentiated as well—there are rural areas, mountainous retreats, kitschy suburbs, and trendy condos. Major cities in Oregon, such as Portland, have extraordinary amenities and high churn. People are always moving in and out of the state, keeping the real estate market active. While it’s not one of the fastest-growing states, it’s still growing at a decent pace.

As with all things, there are also downsides to the Oregon real estate market. The market is relatively expensive, for example. And it can be difficult to find good deals. As of 2022, the median price for a house in Oregon was over $500,000. If you don’t have the right lenders to finance your investment, you could be priced out of the market.

The Best Places to Invest in Oregon Real Estate

The best places to invest in Oregon will vary depending on your investment strategy. If you’re looking for a fix-and-flip opportunity, find an area with strong job growth and many new construction projects. For buy-and-hold investors, look for areas with high rents. Some popular places to invest in Oregon real estate include:

• Portland. The largest city in Oregon, Portland is known for its strong job market, vibrant culture, and amenities. It’s a great place for short-term rentals, long-term rentals, and flips, but you need to be cautious about how much you pay.
• Eugene. A smaller city in the Willamette Valley, Eugene is known for its strong job market, arts and culture scene, and outdoor recreation. It’s an excellent place for flippers to get started.
• Bend. Bend is a popular destination for retirees, outdoor enthusiasts, and second homeowners. Consider Bend for fix-and-flips, long-term rentals, and short-term rentals.
• Medford. Medford is a popular retirement destination. It’s ideal for fix-and-flips targeted toward retirees who are downsizing and want a turnkey property.

Wherever you decide to invest, you need to be cautious about how much you spend. As my mentor pointed out, you can’t always control how much you sell a property for. But you can control how much you spend on it.

How to Find Off-Market Properties in Oregon

Now let’s get to the important stuff: How do you find off-market properties in Oregon? The tactics you’ll use will largely be the same as anywhere else. The challenge is that off-market properties in Oregon move incredibly fast because the market is so hot. As of June 2022, houses spend about 47 days on the market. Here’s what you can do:

• Talk to a real estate agent. While it’s rare, some real estate agents do specialize in off-market listings and listings for investors. They will have access to properties not yet being marketed, but they’ll also cost a pretty penny in terms of commission fees.
• Search for FSBO properties. These listings may be found anywhere from Facebook to Craigslist. When you purchase an FSBO property, there’s no realtor commission involved. Unfortunately, the seller may not be motivated to sell quickly, or they may want more than what is realistically expected for the property.
• Purchase lead lists. Lead lists include homeowners who may be interested in selling their houses, whether they’re going through a divorce, bankruptcy, or any other stressful situation. Unfortunately, you can waste a lot of time on lead lists if they aren’t current or don’t include people who want to sell their homes.
• Paid advertising. Today, you can use the magic of the internet to advertise directly to homeowners—even to those who appear distressed. Paid advertising campaigns can get expensive but can also bring in well-qualified leads.
• Online databases. There are online databases of distressed properties that you can purchase access to. But they tend to be less valuable in areas like Oregon because everyone else—including your competition—already uses them, too.

Here’s the problem. If it’s easy for you to find a lead, someone else has likely already beat you to it. At the same time, you don’t want to spend years and years trying to build up your marketing and advertising.

Luckily, I have the solution.

The Bottom Line: Get Better Leads with Homevestors®

You need off-market properties if you want to invest. But finding off-market properties in Oregon is often time-consuming and expensive. So how can you ensure that your efforts pay off? The answer lies with HomeVestors®. As an independently owned and operated HomeVestors® franchise owner, you can take advantage of the nationally recognized brand to get interested sellers to find you—not the other way around.

Rather than spend an inordinate amount of time hunting down off-market properties in Oregon, HomeVestors® can do the legwork for you while you focus on what you do best—invest. Becoming a franchise owner nets you a variety of unique benefits that you won’t get anywhere else, including access to mentorship and training with highly experienced investors, the ValueChek™ property valuation tool, and the nationally trusted “We Buy Ugly Houses®” marketing campaign. When I joined HomeVestors®, navigating Oregon’s complex real estate market got a lot easier, and I wouldn’t have it any other way.

If you’re struggling to find off-market properties in Oregon, don’t worry—we’re here to help. Request more information from HomeVestors® today.

Each franchise office is independently owned and operated.